Wra chapter 1 - Study guides, Class notes & Summaries

Delivery - A component of binding acceptance. Unenforceable Contract - A contract whereby neither party can sue the other for performance. Equitable Title - The right to obtain absolute ownership of a property when legal title is held in another's name. Offer to Purchase - A promise made to purchase a seller's property under certain terms. Guaranteed Sale - An agreement between a firm and a seller where the firm will purchase the seller's property at a predetermined...

WRA Chapter 13 Vocabulary Questions and Answers Latest Updated 2024

WRA Chapter 1.

Because the forms were drafted by an attorney and the drafter's name is on the form. - Licensees are permitted to use forms drafted by the WRA: Licensees may use approved forms when acting as an agent or principal in a transaction. - Which of the following is true of a licensee's use of approved forms? The diamond is valuable consideration. - Which of the following is true of an offer accompanied by a diamond worth $2,000? A meeting of the minds - What do parties achieve w...

WRA Chapter 10

WRA Chapter 1 Quizzes & Ans 2023.

trust - firms are required to maintain a _____ account if the firm is going to hold trust funds money - salespeople need to have a basic understanding of trust accounts to be able to discuss with buyers and sellers how earnest _____ is held 18 - REEB ____ is the trust account rule REEB - ____ regulates interest-bearing real estate trust accounts (IBRETA), receipt and disbursement of earnest money, accounting procedures, property management, and trust account recording tru...

WRA Chapter 1 Vocabulary.

WRA Final Exam Practice Questions With 100% Verified Answers A selling licensee can receive a commission from the: A:selling firm B:buyer C:buyer's firm D:seller - answerselling firm Wis. Stat. § 452.14(3)(f) Disciplinary proceedings shall be conducted by the board if it finds that a licensee accepted from any person except the firm with which the licensee is associated, if the licensee is associated with a firm, a commission or valuable consideration for the performance of any act s...

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